"This new act will create a more modern environment for the processing sector to continue to be competitive and a leader in Canada," Alward said. "It will
provide an open, transparent and fair framework for the fish-and-seafood industry to continue to play a central role in the economy of New Brunswick."

The New Brunswick seafood-processing industry has been and continues to be a leader and innovator in Atlantic Canada. New Brunswick's seafood exports,
currently over $830 million, continue to grow, with relatively stable landings of $185 million, and $200 million in aquaculture production.

"One of the key objectives of the new act is to allow more flexibility for the industry to do value-added processing through the reduction of red tape," Alward
said. "This will support the diversification of processing in the province, thus leading to the creation of additional export revenues and more fisheries-related
jobs."

The new act will provide for a more structured and transparent framework for the trade of fish.

"This will support and preserve long-term stability and jobs in the industry, while providing better information on the volume of fish being caught and
transporteds, both within and outside the province," Alward said. "This will allow the department to ensure the fisheries are being managed with conservation
and long-term economic viability in mind.

"The proposed Seafood Processing Act is a modern and progressive document that has been developed though a formal consultation process with
representatives of the processing, commercial fisheries and aquaculture sectors of the province."